08-15/CG-NKE

V01/AS CORPORATE GUARANTEE AND INDEMNITY AGREEMENT

Number: 11.

On this day, Tuesday, the eighteenth day of -------------------

August two thousand and fifteen (18-8-2015), at ----

14.00 WIB (fourteen Western Indonesia Time), ---------------

appeared before me, DEDY SYAMRI, Sarjana Hukum, ----

Notary in the Administrative City of South ----------------------

Jakarta, the appearers will be mentioned -----------------------------

hereunder, in the presence of the witnesses whose

names will be mentioned at the closing part of --------

this Deed: ----------------------------------------------------------------------------------------------------------------------------------------

1. Mister SUTIONO TEGUH, born in Semarang, on -----

the 10th (tenth) day of December 1955 (one --------

thousand nine hundred and fifty five), --------------------

President Director of limited liability ----------------

company to be referred to hereunder, ----------------------------

residing in Jakarta, Jalan Kembang Wangi -------------

III/K8/13, Rukun Tetangga 010/Rukun Warga ---------

002, Kelurahan Kembangan Selatan, Kecamatan --

Kembangan, West Jakarta, holder of Resident --

Identity Card Number: 3173081012550007, ----------------

valid until the 10th (tenth) day of December -

2015 (two thousand and fifteen), Indonesia ------

Citizen;------------------------------------------------------------------------------------------------------------------------------------

- According to his statements, the appearer --

in this matter acting in his capacity as -------------

abovementioned and therefore representing ---------

the Board of Directors of and as such for ---------

and on behalf of PT NUSA KONSTRUKSI -------------------------------

1
ENJINIRING Tbk., a publicly listed limited ------

liability company established and existing ------

under the laws of the Republic of Indonesia --

and having its legal domicile in South --------------------

Jakarta and registered office at Jalan Sunan

Kalijaga Number 64, Melawai, Kebayoran Baru,

South Jakarta, Indonesia 12160, whose ------------------------

articles of association was entirely amended

as set forth in deed Number: 7, dated the 8th

(eighth) day of January 2009 (two thousand ------

and nine), passed before HARYANTO, Sarjana ------

Hukum, Notary in Jakarta and has been ------------------------

approved by the Minister of Law and Human ---------

Rights of the Republic of Indonesia by --------------------

virtue of his decree Number: --------------------------------------------------------

AHU-24408.AH.01.02.Tahun 2009, date the 3rd ----

(third) day of June 2009 (two thousand and ------

nine);-------------------------------------------------------------------------------------------------------------------------------------------

- the amendment to the article of --------------------------------------

association was set forth in deed Number: 8,

dated the 9th (ninth) day of August 2012 (two

thousand and twelve), passed before ZULKIFLI

HARAHAP, Sarjana Hukum, Notary in Jakarta ---------

and has been approved by the Minister of Law

and Human Rights of Republic Indonesia by ---------

virtue of his decree Number: --------------------------------------------------------

AHU-43810.AH.01.02.Tahun 2012, date the 10th -

(tenth) day of August 2012 (two thousand and

twelve);------------------------------------------------------------------------------------------------------------------------------------

2
- the last amendment to the article of --------------------

association was set forth in deed Number: ---------

24, dated the 21st (twenty first) day of June

2013 (two thousand and thirteen), passed -------------

before ZULKIFLI HARAHAP, Sarjana Hukum, ----------------

Notary in Jakarta and Notification Reports ------

to the Amendment to the Article Association --

has been accepted and registered in database

Sistem Administrasi Badan Hukum the Ministry

of Law and Human Rights of the Republic of ------

Indonesia Number: AHU-AH.01.10-40958, dated --

the 4th (fourth) day of October 2013 (two ------------

thousand and thirteen);------------------------------------------------------------------------------

- the last composition of the Board of --------------------

Directors and the Board of Commissioners was

set forth in deed Number: 24, dated the 21st -

(twenty first) day of June 2013 (two ----------------------------

thousand and thirteen), passed before ------------------------

ZULKIFLI HARAHAP, Sarjana Hukum, Notary in ------

Jakarta and Notification Reports to the ----------------

Amendment to the Company Data has been --------------------

accepted and registered in database Sistem ------

Administrasi Badan Hukum the Ministry of Law

and Human Rights of the Republic of -------------------------------

Indonesia Number: AHU-AH.01.10-40959, dated --

the 4th (fourth) day of October 2013 (two ------------

thousand and thirteen);------------------------------------------------------------------------------

- and for performing the legal action ------------------------

mentioned in this Deed having obtained prior

3
 approvals from the Board of Commissioners, ------

as evidenced by Approval Of The Board Of -------------

Commissioner Of PT Nusa Konstruksi -----------------------------------

Enjiniring Tbk, Number: --------------------------------------------------------------------------

J004/S.314/NKE/07/15, dated the 28th (twenty -

eighth) day of July 2015 (two thousand and ------

fifteen), privately drawn up and certified ------

true copy of which was duly stamped and ----------------

attached to the minutes of this deed ----------------------------

("Guarantor"); and ----------------------------------------------------------------------------------------------

2. Mister MICHAEL MBAMALI MCNEILL, born in ---------------

Edinburg, on the 10th (tenth) day of ------------------------------

September 1963 (one thousand nine hundred ---------

and sixty three), Director of the company to

be referred to hereunder, residing at 24 -------------

Dublin Road, Singapore 239811, holder of the

United Kingdom of Great Britain and Northern

Ireland Passport Number: 501129260, valid ---------

until the 16th (sixteenth) day of December --------

2016 (two thousand and sixteen), British -------------

Citizen, temporarily being in Jakarta.------------------------

- According to his statements, the appearer --

in this matter acting in his capacity as -------------

abovementioned and therefore representing ---------

the Board of Director of and as such for and

on behalf of ARMSTRONG S.E. ASIA CLEAN --------------------

ENERGY FUND PTE. LTD. (Company Registration --

Number 201118109H), a limited liability ----------------

company established and existing under the ------

4
 laws of Singapore, having its registered -------------

office at 30 Raffles Place, #10-04 Chevron ------

House, Singapore 048622 ("Fund").------------------------------------------

The Guarantor and the Fund are referred to ----------------------

collectively as the "Parties" and individually as

a "Party".---------------------------------------------------------------------------------------------------------------------------------------------

BACKGROUND---------------------------------------------------------------------------------------------------------------------------------------------

(A) By a development loan agreement dated the------------

18th (eighteenth) day of August 2015 ------------------------------

(two thousand and fifteen) (as may -----------------------------------

be amended, modified, supplemented -----------------------------------

or novated from time to time, "Development ------

Loan Agreement") made between PT Inti Duta ------

Energi as developer ("Developer") and ------------------------

the Fund, the Fund has agreed to make ------------------------

available to the Developer a loan --------------------------------------

facility in the aggregate principal amount ------

of up to USD640,000 (six hundred forty --------------------

thousand United States Dollars) ---------------------------------------------

("Facility"), upon the terms and conditions --

set out therein. ----------------------------------------------------------------------------------------------------

(B) It is a condition precedent of the ----------------------------------

Development Loan Agreement that to obtain ---------

the Facility the Guarantor enters into this --

Corporate Guarantee and Indemnity Agreement --

("Corporate Guarantee").--------------------------------------------------------------------------

IT IS AGREED as follows:-------------------------------------------------------------------------------------------

1. INTERPRETATION--------------------------------------------------------------------------------------------------------------

1.1 Definitions------------------------------------------------------------------------------------------------------------------------

5
Terms defined in the Development Loan ------------------------

Agreement, unless otherwise defined in this --

Corporate Guarantee, have the same meanings --

when used in this Corporate Guarantee, and -----

in addition: -----------------------------------------------------------------------------------------------------------------

(a) "Event of Default" means the same as ----------

the definition given to such term in ---------

the Development Loan Agreement;-------------------------------

(b) "Loss" means (i) any amount which the ------

Fund would otherwise have been entitled

to recover from the Developer had the -----

Development Loan Agreement or purported

obligations thereunder been wholly ----------------

valid and enforceable and the Secured -----

Obligations been paid by the Developer;

and (ii) any loss from time to time ------------

incurred by the Fund as a result of the

Developer failing to perform any of ------------

their obligations as stated in the ----------------

Development Loan Agreement; -----------------------------------------

(c) "Secured Obligations" means all present

and future liabilities including but -----

not limited to any sums (whether ------------------------

principal, interest, fees or otherwise)

that are or at any time due, owing or -----

incurred by the Developer to the Fund -----

under the Development Loan Agreement or

from services performed or costs ------------------------

incurred by the Fund under this ---------------------------

6
 Corporate Guarantee and other monies ---------

agreed to be paid or repaid by the ----------------

Guarantor to the Fund;---------------------------------------------------------------

(d) "Discharge Date" means the date on -----------------

which the Fund is satisfied that all of

the Secured Obligations have been --------------------

irrevocably discharged and paid in.----------------

1.2 Interpretation------------------------------------------------------------------------------------------------------------

(a) The rules of interpretation contained ------

in Clause 1.2 (References) of the --------------------

Development Loan Agreement applies to -----

the construction of this Corporate ----------------

Guarantee.----------------------------------------------------------------------------------------------------------

(b) Unless a contrary indication appears, ------

any reference in this Corporate ---------------------------

Guarantee to "Guarantor", "Fund", --------------------

"Developer", or any other person shall,

where the context permits, include ----------------

their respective successors in title, -----

permitted assigns, permitted --------------------------------------

transferees and any persons deriving ---------

title under them. -----------------------------------------------------------------------------

(c) Clause and Schedule headings are for ----------

ease of reference only.------------------------------------------------------------

(d) Any reference in this Corporate ----------------------------

Guarantee to the Fund shall, as the ------------

context requires, also include a ------------------------

reference to its attorney.------------------------------------------------

2. GUARANTEE--------------------------------------------------------------------------------------------------------------------------------

7
2.1 The Granting of Guarantee ---------------------------------------------------------------

The Guarantor unconditionally and --------------------------------------

irrevocably guarantees to the Fund, as a ------------

continuing obligation:---------------------------------------------------------------------------------

(a) the due and punctual payment of the -------------

Secured Obligations under the terms of --

the Development Loan Agreement.-------------------------------

2.2 Demands ------------------------------------------------------------------------------------------------------------------------------------

On or at anytime after the occurrence of an --

Event of Default, the Guarantor must pay the

Secured Obligations to the Fund immediately --

upon receiving the Fund's first written ----------------

demand ("Demand").------------------------------------------------------------------------------------------------

The Demand must be enforced irrespective of --

any dispute between the Fund and the ---------------------------

Developer or whether any steps or --------------------------------------

proceedings are or will be taken against the

Developer or any other person to recover the

Secured Obligations.----------------------------------------------------------------------------------------

2.3 Waivers---------------------------------------------------------------------------------------------------------------------------------------

The Guarantor waives in favour of the Fund --

any and all of its rights, protection, --------------------

privileges and defenses provided by law to a

guarantor and in particular the provisions -----

in Article 1430, 1831, 1833, 1837, 1843, ------------

1847 through 1850 of the Indonesian Civil ---------

Code (Kitab Undang-Undang Hukum Perdata).------------

3. INDEMNITY--------------------------------------------------------------------------------------------------------------------------------

3.1 The Granting of Indemnity----------------------------------------------------------------------

8
 The Guarantor irrevocably and ----------------------------------------------------

unconditionally agrees as an independent and

primary obligor to fully indemnify the Fund --

upon Demand for and against any Loss from ---------

time to time incurred by the the Fund as a -----

result of (i) the Developer failing to --------------------

perform any of its obligations; (ii) the ------------

Secured Obligations being or becoming ------------------------

unenforceable, invalid of illegal or (iii) -----

the Developer being in breach of any ---------------------------

representations or warranties given in the -----

Development Loan Agreement, and to assume ---------

such obligation as Guarantor's own primary -----

obligations, which obligations include --------------------

without limitation any payment obligations, --

under the Development Loan Agreement.---------------------------

3.2 Demand-------------------------------------------------------------------------------------------------------------------------------------------

The Guarantor's obligations to the Fund with

respect to the indemnity given pursuant to -----

this Clause 3 will be due upon Demand from -----

time to time given by the Fund to the ------------------------

Guarantor setting forth the Loss.-----------------------------------------

If the Guarantor fails to pay the amount of --

the Loss as set forth in the Demand within 7

(seven) days as of the date of the Demand, -----

the Fund shall be entitled to receive, and -----

the Guarantor shall pay, interest on such ---------

unpaid amount. The interest will accrue on -----

the overdue amount from the date specified -----

9
 in the Demand until paid in full at such ------------

rate and terms as are stipulated in Clause -----

3.4 (Default Interest) of the Development ---------

Loan Agreement.----------------------------------------------------------------------------------------------------------

3.3 Independent Undertaking-----------------------------------------------------------------------------

The obligations assumed under this Corporate

Guarantee with respect to the indemnity ----------------

given under this Clause 3 are independent ---------

undertakings and constitute the Guarantor's --

own debt and obligation, as meant by or in -----

accordance with Article 1316 of the -------------------------------

Indonesian Civil Code, separate from the ------------

guarantee contained in the preceeding Clause

2, and are not accessory to the Development --

Loan Agreement. ---------------------------------------------------------------------------------------------------

Accordingly Articles 1820 to 1850 of the ---------

Indonesian Civil Code do not apply to the ---------

indemnity given in this Clause 3.-----------------------------------------

4. CONFIRMATION OF DEVELOPER'S OBLIGATION------------------------

The Guarantor confirms the accuracy of each --

and every one of the representations and ------------

warranties made to the Fund by the ----------------------------------

Developer, and the due, punctual and ---------------------------

complete performance of all undertakings of --

the Developer contained in the Development -----

Loan Agreement. -------------------------------------------------------------------------------------------------------

5. GENERAL PROVISIONS------------------------------------------------------------------------------------------------

5.1 No Claims by Guarantor---------------------------------------------------------------------------------

The Guarantor represents to and undertakes -----

10
 with the Fund that it has not taken and will

not take any security in respect of its ----------------

liability under this Corporate Guarantee ------------

whether from the Developer or any other ----------------

person.---------------------------------------------------------------------------------------------------------------------------------------

So long as Secured Obligation and Losses ------------

remain owing by the Developer to the Fund, -----

the Guarantor shall not (i) exercise any ------------

right of subrogation contribution or any ------------

other rights of surety or enforce any ------------------------

security or other right or claim against the

Developer (whether in respect of its ---------------------------

liability under this Corporate Guarantee or --

otherwise) or any other party who has ------------------------

guaranteed or given any security in respect --

of the Secured Obligations or (ii) file a ---------

petition for the insolvency or liquidation -----

of the Developer or any such other party in --

competition with the Fund.-------------------------------------------------------------------

5.2 Assignment---------------------------------------------------------------------------------------------------------------------------

The Guarantor hereby assigns to the Fund, ---------

and grants to the Fund an irrevocable power --

of attorney to exercise without exception ---------

all the Guarantor's rights and claims that -----

now exist or may hereafter arise against the

Developer and their assets with respect to:-----

(a) any right of subrogation against the ----------

Developer;---------------------------------------------------------------------------------------------------------

(b) any debt or other amount for any reason

11
 owed by the Developer to the Guarantor,

provided that the assignment and power

of attorney granted herein with respect

to this sub-clause (b) may be exercised

by the Fund only upon the occurrence of

an Event of Default or failure by the ----

Developer to perform any obligations --------

under the Development Loan Agreement; ----

and----------------------------------------------------------------------------------------------------------------------------------

(c) the proceeds or assets upon the ----------------------------

liquidation of the Developer as a -------------------

result of any winding up or bankruptcy

proceedings or otherwise.---------------------------------------------------

5.3 Amount Received On Behalf of Fund----------------------------------------

If the Guarantor receives any amount that is

subject to assignment stated in Clause 5.2,

it will be deemed to have received and shall

hold such amount in favour of and on behalf

of the Fund, and shall immediately notify --------

the Fund of the receipt of that amount and ----

shall pay over and transfer to the Fund all

amounts so received as the Fund shall ----------------------

direct.--------------------------------------------------------------------------------------------------------------------------------------

5.4 Waiver of Set off Rights------------------------------------------------------------------------

The Guarantor hereby waives any right to ------------

and agrees not to make any claim or set off

or "kompensasi" as provided in Articles ---------------

1425 through 1435 of the Indonesian Civil --------

Code and agrees not to make any counter ---------------

12
 claim in any action brought by the Fund to -----

enforce its rights hereunder.-------------------------------------------------------

5.5 Suspence Account-----------------------------------------------------------------------------------------------------

The Fund may place and keep any monies -------------------

received by virtue of this Corporate --------------------------

Guarantee (whether before or after the -------------------

insolvency, liquidation or bankruptcy of the

Guarantor or the Developer) to the credit of

a suspense account for so long as the Fund ----

thinks fit in order to preserve the rights ----

of the Fund to sue or prove for the whole --------

amount of its claims against the Guarantor,

the Developer or any other person.------------------------------------

5.6 Set-Off Rights of The Fund-----------------------------------------------------------------

If an Event of Default has occurred the Fund

(without prejudice to any general or --------------------------

banker's lien, right of set-off or any other

right to which it may be entitled) has the ----

right, without notice to the Guarantor or --------

any other person, to set off and apply any ----

other indebtedness owing by the Fund to the

Guarantor, against the liabilities of the --------

Guarantor under this Guarantee.------------------------------------------------

5.7 Amendment-------------------------------------------------------------------------------------------------------------------------------

Any amendment or waiver of any provision of

this Corporate Guarantee and any waiver of ----

any default under this Corporate Guarantee ----

will only be effective if made in writing --------

and signed by the Fund.----------------------------------------------------------------------------

13
6. REPRESENTATIONS AND WARRANTIES---------------------------------------------------

6.1 Representations -----------------------------------------------------------------------------------------------------

The Guarantor makes the representations and

warranties set out in this Clause 6 to the ----

Fund on the date of this Corporate ---------------------------------

Guarantee. ------------------------------------------------------------------------------------------------------------------------

6.2 Status-----------------------------------------------------------------------------------------------------------------------------------------

(a) It is a publicly listed limited ----------------------------

liability company duly established and

validly existing under the laws of the

Republic of Indonesia and is duly -------------------

licensed and authorized to be engaged ----

in the business in which it has been --------

engaged in the places of its business ----

activities and to own properties and --------

other assets.----------------------------------------------------------------------------------------------

(b) It has the power to sue and to be sued

in its own name and to its assets.-------------------

(c) No litigation, arbitration or ---------------------------------

administrative proceeding is currently

taking place or pending or threatened ----

against the Guarantor, or its assets --------

and properties which could reasonably ----

be expected to have a Material Adverse

Effect.--------------------------------------------------------------------------------------------------------------------

(d) It is not in the process of ------------------------------------------

dissolution, liquidation, bankruptcy, ----

suspension of payment or any analogous

procedure and no application for any --------

14
 such dissolution, liquidation, -----------------------------

bankruptcy, suspension of payment or --------

analogous procedure has been made.-------------------

6.3 Power and Authority-------------------------------------------------------------------------------------------

(a) It has the corporate powers to execute,

deliver and perform this Corporate ---------------

Guarantee. -----------------------------------------------------------------------------------------------------

(b) It has taken all necessary corporate ----------

action and has obtained all ----------------------------------------

authorization and other actions --------------------------

(including obtaining and maintaining --------

all governmental and creditors' --------------------------

authorizations and approvals) required

for the execution, delivery and --------------------------

performance of this Corporate ---------------------------------

Guarantee.---------------------------------------------------------------------------------------------------------

Such authorizations and approvals are ----

in full force and effect and will -------------------

remain in effect until the Secured ---------------

Obligations have been unconditionally ----

and irrevocably paid and discharged.------------

(c) No limit on its powers will be exceeded

as a result of the granting of this ------------

Corporate Guarantee.---------------------------------------------------------------------

(d) It has freely and voluntarily entered ------

into the transaction contemplated under

this Corporate Guarantee and executed

this Corporate Guarantee based on its ----

own consent, without any fraud, force,

15
 duress or misleading information ----------------------

whatsoever.-----------------------------------------------------------------------------------------------------

6.4 Non-Conflict with Other Obligations---------------------------------

(a) It is not a party to or bound by any ----------

agreement or undertaking which limits ----

or makes subject to any conditions the

right to enter into this Corporate ---------------

Guarantee.---------------------------------------------------------------------------------------------------------

(b) No event or circumstance exists which ------

constitutes (or, with the expiry of a ----

grace period, the giving of notice, the

making of any determination, the ----------------------

satisfaction of any condition or any --------

combination of any of the foregoing, --------

would constitute) a default or -----------------------------

termination event (however described) ----

under any other agreement or instrument

which is binding on the Guarantor or to

which its assets are subject.------------------------------------

(c) It does not and will not by the ----------------------------

execution, delivery and performance of

this Corporate Guarantee, breach the --------

constitutional documents of the --------------------------

Guarantor or any law, regulation, ---------------

agreement or instrument binding upon it

or its properties and assets.------------------------------------

(d) the entering into this Corporate ------------------------

Guarantee and the transaction ---------------------------------

contemplated herein is not (i) a ----------------------

16
 material transaction under OJK -----------------------------

Regulation Number: IX.E.2 regarding ------------

Material Transaction and Change of Line

of Business and (ii) a conflict of ---------------

interest transaction under OJK -----------------------------

Regulation Number: IX.E.1 regarding ------------

Transaction with Affiliated Parties and

Conflict of Interest on Certain --------------------------

Transaction ("OJK Regulation IX.E.1").----

(e) the entering into this Corporate ------------------------

Guarantee and the transaction ---------------------------------

contemplated herein is an affiliated --------

party transaction which only needs to ----

be reported to Indonesian Financial ------------

Services Authority (Otoritas Jasa -------------------

Keuangan) under OJK Regulation Number:

IX.E.1.--------------------------------------------------------------------------------------------------------------------

6.5 Binding Obligations-------------------------------------------------------------------------------------------

(a) The obligations expressed to be assumed

by the Guarantor in this Corporate ---------------

Guarantee are its legal, valid and ---------------

binding obligations and are enforceable

in accordance with its terms.------------------------------------

(b) It has no knowledge of any facts which ---

would inhibit the enforcement of or ------------

impair the validity of this Corporate ----

Guarantee.---------------------------------------------------------------------------------------------------------

6.6 Tax----------------------------------------------------------------------------------------------------------------------------------------------------

No amount, taxes, charges, fees, duties and

17
 assessments are or will be levied, assessed

or due with respect to the Guarantor, its -------

properties and assets, which would --------------------------------

materially affect the Guarantor's abilities

to perform its obligations under this ---------------------

Corporate Guarantee.--------------------------------------------------------------------------------------

6.7 Information------------------------------------------------------------------------------------------------------------------------

(a) All information (including but not -----------------

limited to the financial information) ----

provided by the Guarantor or on its ------------

behalf to the Fund under or in -----------------------------

connection with this Corporate -----------------------------

Guarantee was, and remains true, ----------------------

complete, and accurate in all material

respects. The Guarantor is not aware of

any material facts or circumstances ------------

that have not been disclosed to the ------------

Fund and which might, if disclosed, ------------

render such information untrue, --------------------------

incomplete or inaccurate in any --------------------------

material respect.--------------------------------------------------------------------------------

(b) The most recent audited financial --------------------

statements of the Guarantor for the ------------

time being (including the audited -------------------

profit and loss account and balance ------------

sheet): (i) were prepared in accordance

with applicable laws and regulations of

the Republic of Indonesia and generally

accepted accounting principles and ---------------

18
 policies consistently applied; and (ii)

show a true and fair view of the ----------------------

financial position of the Guarantor as

at the end of, and the results of its ----

operations for, the financial period to

which they relate. There has been no --------

material adverse change in the business

or financial condition of the Guarantor

since the date of such financial ----------------------

statements.-----------------------------------------------------------------------------------------------------

(c) It is not necessary in order to ensure ---

the validity, enforceability or --------------------------

admissibility in evidence in ------------------------------------

proceedings of this Corporate Guarantee

in the Republic of Indonesia (or any --------

other relevant jurisdiction) that it or

any other document be filed or -----------------------------

registered with any authority in the --------

Republic of Indonesia or that any tax ----

be paid in respect thereof.--------------------------------------------

6.8 No Lien and Indebtedness------------------------------------------------------------------------

(a) No lien exists over all or any part of ---

the property, assets or revenues of the

Guarantor except any liens which could

be reasonably expected not to have a --------

Material Adverse Effect; and----------------------------------------

(b) The Guarantor has no indebtedness to ----------

any party except indebtedness which ------------

could be reasonably expected not to ------------

19
 have a Material Adverse Effect.-----------------------------

6.9 Repetition of Representations and ------------------------------------

Warranties --------------------------------------------------------------------------------------------------------------------

The representations and warranties set out ---

in this Clause 6 are deemed to be made by -------

the Guarantor by reference to the facts and

circumstances then existing on the date of ---

this Corporate Guarantee up to and --------------------------------

including the Discharge Date.-----------------------------------------------------

7. UNDERTAKINGS--------------------------------------------------------------------------------------------------------------------

7.1 Duration of Undertakings------------------------------------------------------------------------

The undertakings in this Clause 7 commence ----

on the date of this Corporate Guarantee and

continue from the date hereof up to and ---------------

including the Discharge Date.-------------------------------------------------------

7.2 Affirmative Undertakings ---------------------------------------------------------------------

The Guarantor undertakes that:--------------------------------------------------

(a) it shall supply to the Fund in --------------------------------

sufficient number for the Fund :--------------------------

(i) as soon as they are available, but

in any event within 90 (ninety) --------

days after the end of each --------------------------

financial year of the Guarantor, ----

copies of its financial statements

in respect of such financial year

(including a profit and loss -------------------

account and balance sheet) which ----

has been audited and certified ------------

without qualification by an ----------------------

20
 internationally recognised firm of

independent accountants acceptable

to the Fund;--------------------------------------------------------------------------------

(ii) as soon as they are available, but

in any event within 45 ----------------------------------------

(forty-five) days after the end of

each half of each financial year ----

of the Guarantor, copies of its --------

unaudited financial statements ------------

(including a profit and loss -------------------

account and balance sheet) --------------------------

prepared on a basis consistent ------------

with the audited financial --------------------------

statements of the Guarantor ----------------------

together with a certificate signed

by the principal financial officer

of the Guarantor to the effect ------------

that such financial statements are

true in all respects and present

fairly the financial position of ----

the Guarantor as at the end of, --------

and the results of its operations

for, such half-year period;--------------------------

(iii) promptly on request, provide such

additional financial or other ---------------

information relating to the ----------------------

Guarantor as the Fund may from ------------

time to time request;--------------------------------------------

(b) it shall promptly and at its own ------------------------

21
 expense execute all such documents and

do all such acts and things as the Fund

may require (and in form and substance

as the Fund may requires):------------------------------------------------

(i) to perfect, complete, protect or ----

maintain the guarantee and the ------------

indemnity created by this -----------------------------

Corporate Guarantee ---------------------------------------------------

(ii) to facilitate the enforcement of ----

this Corporate Guarantee------------------------------------

(iii) to exercise all and any rights, -----

powers and remedies of the Fund --------

provided by or pursuant to this --------

Corporate Guarantee or by law;---------------

(c) it shall keep proper records and books ---

of account in respect of its business ----

and permit the Fund and any ----------------------------------------

professional consultants appointed by ----

the Fund at all reasonable times to ------------

inspect and examine the records and ------------

books of account of the Guarantor;-------------------

(d) it shall promptly inform the Fund of:----------

(i) the occurrence of any Event of -------------

Default;------------------------------------------------------------------------------------------------

(ii) the imposition of any attachment ------

or the filing of any request for ------

attachment on any of the -----------------------------------

properties and assets of the --------------------

Guarantor; and--------------------------------------------------------------------------

22
 (iii) any litigation, arbitration or --------

administrative proceeding -------------------------------

threatened against the Guarantor ------

or its properties and assets;--------------------

(e) it shall maintain its corporate ----------------------------

existence and conduct its business in a

proper and efficient manner and in ---------------

compliance with all laws, regulations,

authorisations, agreements and -----------------------------

obligations applicable to it;------------------------------------

(f) it shall punctually pay all taxes, -----------------

duties, fees, charges and costs ----------------------------

whatsoever that are payable in respect --

of the Guarantor or its properties and --

assets unless such payment is being -------------

contested in good faith and adequate ---------

provision has been made;--------------------------------------------------------

(g) it shall comply with any requirement to

file reports of this Corporate -------------------------------

Guarantee including but not limited to --

Bank Indonesia, the Minister of Finance

and the Team for Offshore Commercial ---------

Loans in accordance with the prevailing

laws and regulations and provide ------------------------

evidence of such compliance to the ----------------

Fund;----------------------------------------------------------------------------------------------------------------------------

(h) it shall procure that there is no --------------------

change of control (direct or indirect) --

of the Guarantor; and-------------------------------------------------------------------

23
 (i) it shall ensure that its obligations ----------

under this Corporate Guarantee at all ------

times rank at least pari passu with all

other unsecured obligations of the ----------------

Guarantor.-----------------------------------------------------------------------------------------------------------

7.3 Negative Undertakings ----------------------------------------------------------------------------

The Guarantor undertakes that (unless the ---------

Fund otherwise agrees in writing):--------------------------------------

(a) it shall not merge or consolidate with ---

any other entity or take any step with --

a view to dissolution, liquidation or ------

winding-up;-------------------------------------------------------------------------------------------------------

(b) it shall not make or grant any loan or ---

advance or guarantee or in any other ---------

manner be or become directly or ----------------------------

indirectly or contingently liable for ------

any indebtedness or other obligation of

any other person, except under or --------------------

pursuant to this Corporate Guarantee or

as may be necessary which could be ----------------

reasonably expected not to have a --------------------

Material Adverse Effect;--------------------------------------------------------

(c) it shall not create or attempt or agree

to create or permit to arise or exist ------

any Encumbrances over all or any part ------

of its property, assets or revenues -------------

except any lien which could be ----------------------------

reasonably expected not to have a --------------------

Material Adverse Effect and not in ----------------

24
 connection with the borrowing or ------------------------

raising of money or credit;---------------------------------------------

(d) it shall not enter into any agreement ------

or obligation which might materially ---------

and adversely affect its financial or ------

other condition.-------------------------------------------------------------------------------------

8. ENFORCEMENT------------------------------------------------------------------------------------------------------------------------

At any time on and after the occurrence of ----

an Event of Default, the Fund or any --------------------------

person, at any time and from time to time --------

appointed in writing by the Fund may, ----------------------

without prior authorization from any court ----

in its absolute discretion enforce the -------------------

guarantee and indemnity and do and perform ----

all acts necessary or incidental to the ---------------

enforcements of the Fund's rights under ---------------

this Corporate Guarantee.---------------------------------------------------------------------

Further, the Guarantor undertakes that it --------

will not claim or seek any losses or damage

or any other claim or remedy whatsoever from

the Fund as a result of any exercise of ---------------

rights or action taken by the Fund and the ----

Guarantor hereby waives its right to make a

claim for such losses, damages or any other

remedy.--------------------------------------------------------------------------------------------------------------------------------------

9. EFFECTIVENESS OF GUARANTEE --------------------------------------------------------------

9.1 Effect of Corporate Guarantee--------------------------------------------------------

The Corporate Guarantee is intended by the ------

Guarantor to be the guarantee for the full ------

25
 payment and discharge of the Secured ----------------------------

Obligations and Loss and it shall not:------------------------

(a) be construed as limiting or precluding ---

in any way the exercise by the Fund of --

any or all of its rights for the full ------

and punctual payment or discharge of ---------

the Secured Obligations or Loss; or----------------

(b) constitute payment or discharge of the ---

Secured Obligations or Loss or any ----------------

portion thereof, unless and until the ------

Fund has collected and applied the ----------------

proceeds of the guarantee and the --------------------

indemnity to payment in full of the -------------

Secured Obligations and Loss. -------------------------------

9.2 Continuing Guarantee and Indemnity--------------------------------------

(a) The guarantee and indemnity created by ---

or pursuant to this Corporate Guarantee

is a continuing guarantee and indemnity

and will extend to the ultimate balance

of sums payable by the Guarantor in -------------

respect of the Secured Obligations and --

Loss, regardless of any intermediate ---------

payment or discharge in whole or in -------------

part.----------------------------------------------------------------------------------------------------------------------------

(b) The guarantee and indemnity created by ---

or pursuant to this Corporate -----------------------------------

Guarantee, and the rights of the Fund ------

under this Corporate Guarantee, will be

enforceable notwithstanding any change --

26
 in the constitution of the Fund or its --

absorption into, or amalgamation with, --

any other person or the acquisition of --

all or any part of its undertaking by ------

any other person.---------------------------------------------------------------------------------

9.3 Waiver of Defences --------------------------------------------------------------------------------------------

(a) Neither the obligations of the --------------------------------

Guarantor under this Corporate -------------------------------

Guarantee nor the guarantee and ----------------------------

indemnity created by or pursuant to -------------

this Corporate Guarantee will be ------------------------

prejudiced, affected or discharged by ------

any of the following:-------------------------------------------------------------------

(i) any time, waiver or consent ------------------------

granted to, or indulgence to or ---------

composition with, the Guarantor, ------

the Developer or other person;----------------

(ii) the release of the Guarantor or, ------

the Developer or any other person --

under the terms of any composition

or arrangement with any creditor ------

of the Developer;----------------------------------------------------------------

(iii) the taking, variation, -------------------------------------

compromise, exchange, renewal or ------

release of, or refusal or neglect --

to perfect, take up or enforce, ---------

any rights against, or ------------------------------------------

Encumbrances, over assets of the ------

Guarantor, Developer or any other --

27
 person; or any non-presentation or

non-observance of any formality or

other requirement in respect of ---------

any instrument; or any failure to --

realise the full value of any ----------------

Encumbrances;------------------------------------------------------------------------------

(iv) any incapacity, or lack of power, --

authority or legal personality, or

dissolution or change in the --------------------

members or status, of the -------------------------------

Guarantor, the Developer or any ---------

other person;------------------------------------------------------------------------------

(v) any amendment, supplement, ------------------------

extension or restatement (however --

fundamental and whether or not -------------

more onerous), or replacement, -------------

assignment , or novation (pursuant

to clause 1421 of the Indonesian ------

Civil Code) or termination, of the

Development Loan Agreement or any --

other document or Encumbrances -------------

including any change in the ------------------------

purpose of, any extension of or ---------

any increase in any facility or ---------

the addition of any new facility, --

under the Development Loan ----------------------------

Agreement or any other document or

Encumbrances;------------------------------------------------------------------------------

(vi) any unenforceability, illegality ------

28
 or invalidity of any obligation of

any person or any provisions under

the Development Loan Agreement or --

any other document or ---------------------------------------------

Encumbrances; --------------------------------------------------------------------------

(vii) any bankruptcy, suspension of ------------

payment, dissolution or ---------------------------------------

liquidation or similar proceedings

or insolvency or any incapacity, ------

disability or limitation howsoever

described or any change in the -------------

constitutional document of the -------------

Guarantor, Developer or any other --

person;----------------------------------------------------------------------------------------------------

(viii) the Fund at any time releasing, -----

refraining from enforcing, varying

or in any other way dealing with ------

any of the same, any power, right --

or remedy that the Fund has now or

in the future obtained from or -------------

against the Guarantor, the ----------------------------

Developer or any other person;----------------

(ix) any act, omission, event or ------------------------

circumstances which would or may ------

but for this provision operate to --

prejudice, affect or discharge the

Development Loan Agreement or the --

liability of the Guarantor, the ---------

Developer or any other person; or------

29
 (x) the payment to the Fund by the -------------

Developer or any other person, or --

the settlement, of any part of the

Secured Obligations or Loss;------------------------

but the obligations hereunder shall be --

continuing obligations of the Guarantor

with respect to all of the terms and ---------

conditions set forth herein.------------------------------------------

9.4 Immediate Recourse------------------------------------------------------------------------------------------------

The Guarantor waives any right it may have ------

to first require the Fund to proceed against

or enforce any other rights or security or ------

claim payment from any other person before ------

enforcing the guarantee and indemnity ------------------------

created by or pursuant to this Corporate -------------

Guarantee. This waiver applies irrespective --

of any law or any provision of the -----------------------------------

Development Loan Agreement to the contrary.------

9.5 Additional guarantee and indemnity--------------------------------------

The guarantee and indemnity created by or ---------

pursuant to this Corporate Guarantee is in ------

addition to and independent of, and is not ------

in any way prejudiced by, any other -------------------------------

guarantees, indemnity Encumbrances or right --

or remedy now or subsequently held by or -------------

available to the Fund.---------------------------------------------------------------------------------

The rights, interests and benefits granted ------

to the Fund by this Corporate Guarantee will

not be varied or diminished or terminated by

30
 virtue of any change or discharge of any of --

the terms of the Development Loan Agreement --

or otherwise.------------------------------------------------------------------------------------------------------------------

This Corporate Guarantee may be enforced for

any balance due after resorting to any one ------

or more other means of obtaining payment or --

discharge of the monies, obligations and -------------

liabilities hereby guaranteed.----------------------------------------------------

9.6 Fund's Rights Several ------------------------------------------------------------------------------

The rights of the Fund under this Corporate --

Guarantee are several and accordingly:------------------------

(a) the amount at any time due hereunder to

the Fund is a separate and independent --

debt and the Fund shall be entitled to --

protect and enforce its rights arising --

out of this Corporate Guarantee.----------------------------

9.7 Application of Proceeds------------------------------------------------------------------------------

Any payment received by the Fund under this --

Corporate Guarantee shall be applied against

the Secured Obligations as provided in the ------

Development Loan Agreement.----------------------------------------------------------------

10. PAYMENTS FREE OF DEDUCTION-------------------------------------------------------------------

All payments to be made by the Guarantor -------------

under this Corporate Guarantee must be paid --

in full without set-off or counterclaim or ------

any restriction or condition and free and ---------

clear of and without deduction for or on -------------

account of tax unless the Guarantor is --------------------

required by law to make such payment subject

31
 to the deduction or withholding of tax. In ------

such a case the sum payable by it in respect

of which such deduction or withholding is ---------

required to be made will be increased to the

extent necessary to ensure that, after the ------

making of such deduction or withholding, the

person on account of whose liability to tax --

such deduction or withholding has been made --

receives and retains (free from any -------------------------------

liability in respect of any such deduction ------

or withholding) a net sum equal to the sum ------

which it would have received and so retained

had no such deduction or withholding been ---------

made or required to be made.------------------------------------------------------------

The Guarantor shall promptly forward to the --

Fund copies of official receipts or other ---------

evidence showing that the full amount of any

such deduction or withholding has been paid --

over to the relevant taxation or other --------------------

authority.----------------------------------------------------------------------------------------------------------------------------

11. EXPENSES AND INDEMNITIES--------------------------------------------------------------------------

11.1 Costs and Expenses------------------------------------------------------------------------------------------------

Save for the amount of all costs and ----------------------------

expenses (including legal and other fees) ---------

incurred by the Fund in connection with ----------------

Clause 11.1(c), which the Guarantor shall ---------

pay to the Fund on demand, the Guarantor -------------

shall, within 5 (five) Business Days of ----------------

demand, pay to the Fund the amount of all ---------

32
costs and expenses (including legal and ----------------

other fees) incurred by the Fund in -------------------------------

connection with:-------------------------------------------------------------------------------------------------------

(a) the negotiation, preparation, execution

and translation of this Corporate --------------------

Guarantee and any other documents --------------------

referred to in this Corporate -----------------------------------

Guarantee, and any amendment to or ----------------

extension of, or the giving of any ----------------

consent or waiver in connection to this

Corporate Guarantee (and all maters -------------

incidental thereto); -------------------------------------------------------------------

(b) all stamp duty and other similar taxes ---

payable in respect of this Corporate ---------

Guarantee, the guarantee and indemnity --

created by or pursuant to this -------------------------------

Corporate Guarantee or any judgment -------------

given in connection with any of them; ------

(c) the enforcement of, or the exercise of,

or the preservation of the Fund's --------------------

rights under this Corporate Guarantee, --

or any proceedings instituted by or -------------

against the Fund as a consequence of ---------

enforcing or preserving its rights ----------------

under this Corporate Guarantee or --------------------

taking or holding this guarantee and ---------

indemnity; and--------------------------------------------------------------------------------------------

(d) the releasing or re-assigning of this ------

Corporate Guarantee upon payment of the

33
 Secured Obligations.-----------------------------------------------------------------------

11.2 Default Interest-------------------------------------------------------------------------------------------------

(a) If the Guarantor fails to pay any --------------------

amount payable by it in connection with

Clause 11.1 (Costs and Expenses) and ---------

Clause 11.3 (General Indemnity) on the --

due date, the Fund may, but is not ----------------

obliged to, make those payments. ------------------------

(b) For the avoidance of doubt, in the ----------------

event the Fund made the payments ------------------------

referred to in paragraph (a) above, the

amount paid shall form part of the ----------------

Secured Obligations guaranteed under ---------

this Corporate Guarantee.----------------------------------------------------

(c) Interest will accrue on the overdue -------------

amount from the initial due date of any

amount payable up to the date of actual

payment by the Guarantor (both before ------

and after judgment and to the extent ---------

interest at a default rate is not --------------------

otherwise being paid on such amount) ---------

calculated on a daily basis at the rate

determined in accordance with the --------------------

provisions of Clause 3.4 (Default --------------------

Interest) of the Development Loan --------------------

Agreement. Any interest accruing under --

this Clause will be immediately payable

by the Guarantor on demand by the Fund.--

11.3 General Indemnity----------------------------------------------------------------------------------------------------

34
 The Guarantor shall, notwithstanding any -------------

release or discharge of all or any part of ------

the guarantee created by or pursuant to this

Corporate Guarantee, within 5 (five) ----------------------------

Business Days of demand, indemnify the Fund

and any of their attorneys, against any ----------------

cost, loss or liability incurred by them or --

by any of their attorneys, as a result of:---------

(a) any breach by the Guarantor of the -----------------

provisions of this Corporate Guarantee;

(b) the exercise of any of the rights and ------

powers conferred on them by this ------------------------

Corporate Guarantee;-----------------------------------------------------------------------

(c) enforcement or the preservation of this

Corporate Guarantee and any rights of ------

the Fund; and --------------------------------------------------------------------------------------------

11.4 Indemnities Separate----------------------------------------------------------------------------------------

Each indemnity in this Corporate Guarantee -------

will:-----------------------------------------------------------------------------------------------------------------------------------------------

(a) constitute a separate and independent ------

obligation from the other obligations ------

in the Development Loan Agreement;--------------------

(b) give rise to a separate and independent

cause of action;-------------------------------------------------------------------------------------

(c) apply irrespective of any indulgence ----------

granted to the Guarantor;----------------------------------------------------

(d) continue in full force and effect --------------------

despite any judgment, order, claim, or --

proof for a liquidated amount in ------------------------

35
 respect of the Secured Obligations or ------

Loss or any other judgement or order; ------

and------------------------------------------------------------------------------------------------------------------------------------

(e) apply whether or not any claim under it

relates to any matter disclosed by the --

Guarantor or is otherwise known to the --

Fund.----------------------------------------------------------------------------------------------------------------------------

12. RELEASE OF GUARANTEE----------------------------------------------------------------------------------------

12.1 Effectiveness------------------------------------------------------------------------------------------------------------------

This Corporate Guarantee will remain valid, --

binding and in full force and effect from ---------

the date hereof until the Discharge Date. ------

12.2 Release of Corporate Guarantee----------------------------------------------------

The termination of this Corporate Guarantee --

shall be without recourse to or any -------------------------------

representation or warranty by the Fund.--------------------

12.3 Avoidance of Payment----------------------------------------------------------------------------------------

If the Fund considers that any amount paid ------

or credited to the Fund under the --------------------------------------

Development Loan Agreement or this Corporate

Guarantee is capable of being avoided or -------------

reduced by virtue of any bankruptcy, ----------------------------

insolvency, liquidation, or administration ------

of the Developer or the Guarantor; or based --

on applicable laws having similar effect, ---------

that amount will not be considered to have ------

been paid for the purpose of determining -------------

whether all the Secured Obligations have -------------

been unconditionally and irrevocably paid ---------

36
 and discharged. -------------------------------------------------------------------------------------------------------

13. RIGHTS, WAIVERS AND DETERMINATIONS------------------------------------

13.1 Remedies and Waivers---------------------------------------------------------------------------------------

No failure to exercise, nor any delay in -------------

exercising, on the part of the Fund, any -------------

right, power or remedy under this Corporate --

Guarantee shall operate as a waiver of any ------

such right, power or remedy. No single or ---------

partial exercise of any right, power or ----------------

remedy shall prevent any further or other ---------

exercise or the exercise of any other right,

power or remedy. The rights, powers and ----------------

remedies provided in this Corporate -------------------------------

Guarantee are cumulative and not exclusive ------

of any rights, powers or remedies provided ------

by law.---------------------------------------------------------------------------------------------------------------------------------------

13.2 Partial Invalidity----------------------------------------------------------------------------------------------

If, at any time, any provision of this --------------------

Corporate Guarantee is or becomes illegal, ------

invalid or unenforceable in any respect ----------------

under any law of any jurisdiction, neither ------

the legality, validity nor enforceability of

the remaining provisions nor the legality, ------

validity or enforceability of such provision

under the law of any other jurisdiction will

in any way be affected or impaired.-----------------------------------

13.3 Determination----------------------------------------------------------------------------------------------------------------

Any certification or detemination by the -------------

Fund of a rate or amount under this -------------------------------

37
 Corporate Guarantee is, in the absence of ---------

manifest error, conclusive evidence of the ------

matters to which it relates.------------------------------------------------------------

14. ASSIGNMENT ------------------------------------------------------------------------------------------------------------------------

14.1 The Guarantor------------------------------------------------------------------------------------------------------------------

The Guarantor shall not transfer any of its --

rights or obligations under this Corporate ------

Guarantee.----------------------------------------------------------------------------------------------------------------------------

14.2 The Fund------------------------------------------------------------------------------------------------------------------------------------

The Fund may assign any of their rights -----------------

under this Corporate Guarantee in accordance

with the terms of the Development Loan ---------------------

Agreement.-----------------------------------------------------------------------------------------------------------------------------

15. NOTICES--------------------------------------------------------------------------------------------------------------------------------------

15.1 Communication in Writing------------------------------------------------------------------------

Any communication to be made under or in ------------

connection with this Corporate Guarantee ------------

shall be made in writing and, unless --------------------------

otherwise stated, may be made by fax, letter

or email.-------------------------------------------------------------------------------------------------------------------------------

15.2 Addresses-------------------------------------------------------------------------------------------------------------------------------

The address, fax number and email address --------

(and the department or officer (if any) for

whose attention the communication is to be ----

made) of each Party for any communication or

document to be made or delivered under or in

connection with this Corporate Guarantee is

that identified with its name below:-----------------------------

(a) the Guarantor:---------------------------------------------------------------------------------------------

38
 PT Nusa Konstruksi Enjiniring Tbk.----------------------

Jalan Sunan Kalijaga Number 64------------------------------------

Melawai, Kebayoran Baru-------------------------------------------------------------

South Jakarta, Indonesia 12160-------------------------------------

Fax number: +62 (21) 7396580--------------------------------------------

E-mail : steguh@nusakonstruksi.com------------

Attention : Insinyur Sutiono Teguh-----------------------

(b) the Fund: -----------------------------------------------------------------------------------------------------------

Armstrong S.E. Asia Clean Energy Fund --------

PTE. LTD. (Company Registration -----------------------------

No.201118109H)----------------------------------------------------------------------------------------------

30 Raffles Place---------------------------------------------------------------------------------------

#10-04 Chevron House------------------------------------------------------------------------

Singapore 048622---------------------------------------------------------------------------------------

Fax number: +65 6536 0340------------------------------------------------------

E-mail: michael.mcneill@armstrongam.com----

Attention : Michael McNeill------------------------------------------------

or any substitute address, fax number, email

address or department or officer as a Party --

may notify to the other Party by not less ---------

than 5 (five) Business Days’ notice.-------------------------------

15.3 Delivery----------------------------------------------------------------------------------------------------------------------------------

(a) Any communication or document made or ------

delivered by one Party to another under

or in connection with this Corporate ---------

Guarantee will only be effective:------------------------

(i) if by way of fax, when received in

legible form; --------------------------------------------------------------------------

(ii) if by way of letter, when it has ------

39
 been left at the relevant address --

or 5 (five) Business Days after ---------

being deposited with an --------------------------------------

internationally recognized courier

service postage prepaid in an ----------------

envelope addressed to the relevant

Party at that address; or-----------------------------------

(iii) if by way of email, if it ---------------------------

complies with the rules set out in

Clause 15.4 (Electronic --------------------------------------

Communication);-----------------------------------------------------------------------

and if a particular department or --------------------

officer is specified as part of its -------------

address details provided under Clause ------

15.2 (Addresses), if addressed to that --

department or officer.----------------------------------------------------------------

(b) Any communication or document to be -------------

made or delivered to the Fund under or --

in connection with this Corporate --------------------

Guarantee will be effective only when ------

actually received by the Fund and then --

only if it is expressly marked for the --

attention of the department or officer --

identified above (or any substitute -------------

department or officer as it shall --------------------

specify for this purpose).-------------------------------------------------

15.4 Electronic Communication------------------------------------------------------------------------

(a) Any communication to be made between ----------

the Parties under or in connection with

40
 this Corporate Guarantee may be made by

electronic mail or other electronic -------------

means, if the Parties:----------------------------------------------------------------

(i) agree that, unless and until --------------------

notified to the contrary, this is --

to be an accepted form of -------------------------------

communication; -----------------------------------------------------------------------

(ii) notify each other in writing of ---------

their electronic mail addresses or

any other information required to --

enable the sending and receipt of --

information by that means; and----------------

(iii) notify each other of any change -----

to their address or any other such

information supplied by them.--------------------

(b) Any electronic communication made --------------------

between the Parties will be effective ------

only when actually received in readable

form, and only if it is addressed in ---------

such a manner as the recipient shall ---------

specify for this purpose.----------------------------------------------------

(c) A Party shall notify the other Party ----------

promptly upon becoming aware that its ------

electronic mail system or other ----------------------------

electronic means of communication --------------------

cannot be used due to technical failure

(if such failure is likely to last for --

more than 24 (twenty-four) hours). -------------

Until that Party has notified the other

41
 Party that the failure has been ----------------------------

remedied, all notices between the --------------------

Parties shall be sent by fax or letter --

in accordance with this Clause 15 --------------------

(Notices).-----------------------------------------------------------------------------------------------------------

15.5 Language------------------------------------------------------------------------------------------------------------------------------------

(a) This Corporate Guarantee is made in the

Indonesian language and the English -------------

language. Both versions are equally -------------

original and true. In the event of any --

inconsistency or different ---------------------------------------------

interpretation between the Indonesian ------

language version and the English ------------------------

language version, the relevant -------------------------------

Indonesian language version is deemed ------

to be automatically amended (with --------------------

effect from the date of the execution ------

of this Corporate Guarantee) to make ---------

the relevant part of the Indonesian -------------

language version consistent with the ---------

relevant part of the English language ------

version.------------------------------------------------------------------------------------------------------------------

(b) Without limiting the effect of Clause ------

16 (a), the Guarantor grants the Fund ------

an irrevocable power of attorney to -------------

execute any amendments required to make

the relevant part of the Indonesian -------------

language version consistent with the ---------

relevant part of the English language ------

42
 version (with effect from the date of ------

execution of this Corporate Guarantee) --

for and on behalf of the Guarantor.----------------

(c) Each Party:--------------------------------------------------------------------------------------------------------

(i) acknowledges that, with its ------------------------

agreement, this Corporate -------------------------------

Guarantee has been predominantly ------

negotiated in the English -------------------------------

language;--------------------------------------------------------------------------------------------

(ii) represents that it has read and ---------

fully understands the contents and

consequences of this Corporate -------------

Guarantee;----------------------------------------------------------------------------------------

(iii) represents that it has made and -----

entered into this Corporate ------------------------

Guarantee freely and without --------------------

duress, and-------------------------------------------------------------------------------------

(iv) represents that it has received ---------

independent legal advice with ----------------

regard to this Corporate -----------------------------------

Guarantee.----------------------------------------------------------------------------------------

16. GOVERNING LAW AND JURISDICTION -------------------------------------------------

16.1 Law-----------------------------------------------------------------------------------------------------------------------------------------------------

This Corporate Guarantee and any rights and --

obligations arising out of and in connection

with it are governed by the laws of the ----------------

Republic of Indonesia.---------------------------------------------------------------------------------

16.2 Jurisdiction---------------------------------------------------------------------------------------------------------------------

The Guarantor irrevocably and ----------------------------------------------------

43
 unconditionally submits itself to the ------------------------

non-exclusive jurisdiction of The District ------

Court of Central Jakarta. Notwithstanding ---------

the foregoing, the Fund will have the right --

to proceed against the Guarantor and its -------------

assets in any other court with jurisdiction,

and the Guarantor agrees to submit to the ---------

jurisdiction of such court. The Guarantor ---------

irrevocably and unconditionally waives any ------

objection which it may now or hereafter have

to the choice of the venue of any legal ----------------

action arising out of or relating to this ---------

Corporate Guarantee brought by the Fund in ------

any court.----------------------------------------------------------------------------------------------------------------------------

16.3 No Limitation on Right of Action---------------------------------------------

To the extent allowed by law, the Fund may ------

take concurrent proceedings in any number of

jurisdictions. -----------------------------------------------------------------------------------------------------------

16.4 Final Judgment Conclusive---------------------------------------------------------------------

The Parties agree that a final judgment ----------------

against them in any such legal action shall --

be final and conclusive and may be enforced --

in any court with jurisdiction.-------------------------------------------------

16.5 Waiver of Immunity----------------------------------------------------------------------------------------------

The Guarantor irrevocably waives any ----------------------------

immunity, whether characterized as sovereign

immunity or otherwise, with respect to --------------------

itself, its revenues and assets ---------------------------------------------

(irrespective of their use or intended use),

44
 from any set-off or legal action in the ----------------

Republic of Indonesia or elsewhere, -------------------------------

including immunity from (i) service of --------------------

process, (ii) jurisdiction of any court or ------

tribunal, and (iii) attachment of any of its

property prior to a judgment or execution of

a judgment related to any of its property.---------

The appearers hereby guarantee the accuracy -------------------

identity of the appearers in accordance with ---------------

identity provided to me, Notary and fully --------------------------

responsible for such event and furthermore the -----

appearers have also acknowledged and recognized --

the content of this deed.---------------------------------------------------------------------------------------

The appearers are known to me, Notary. --------------------------------------

IN WITNESS THEREOF
------------------------------------------------------ -------------------------------------------------------

Made as minutes and executed in South Jakarta, on

the day and date as mentioned in the preamble of

this deed, with the presence of:--------------------------------------------------------------

1. Mister ANDRI SUSENO, born in Lubuklinggau, ----

on the 26th (twenty sixth) day of March 1988

(one thousand nine hundred and eighty ----------------------

eight), Assistant of the Notary, residing in

Lubuklinggau, Jalan Yos Sudarso, Rukun -------------------

Tetangga 004, Kelurahan Simpang Periuk, ---------------

Kecamatan Lubuklinggau Selatan II, Kota ---------------

Lubuklinggau, South Sumatera, holder of ---------------

the Resident Identity Card Number: ---------------------------------

1673072603880001, valid for a lifetime, ---------------

Indonesian Citizen, temporarily being in ------------

45
 Jakarta;-----------------------------------------------------------------------------------------------------------------------------------

2. Miss SYLVIA LAURA LESTARI, born in Aceh, on

the 16th (sixteenth) day of April 1990 (one

thousand nine hundred and ninety), Assistant

of the Notary, residing in Depok, Jalan ---------------

Camar III Blok D-5 Number 10, Griya Cinere ----

I, Rukun Tetangga 003/Rukun Warga 010, -------------------

Kelurahan Limo, Kecamatan Limo, Kota Depok,

West Java, holder of the Resident Identity ----

Card Number: 3276045604900002, valid until ----

the 16th (sixteenth) day of April 2017 (two

thousand and seventeen), Indonesian Citizen,

temporarily being in Jakarta;-------------------------------------------------------

- both known to me, Notary, as the witnesses. ------------

This deed, after have been duly read out by me, ----

Notary, to the appearers and the witnesses and -----

furthermore the parties have also understood, ------------

acknowledged, and recognized the content of this

deed, and then this deed was immediately signed ----

by the appearers, the witnesses and me, Notary. ----

Executed without alteration. ------------------------------------------------------------------------

The original of this deed has been properly -------------------

signed.--------------------------------------------------------------------------------------------------------------------------------------------------------

Issued as a copy of the same tenor. ------------------------------------------------

46
47
48